Already at 2 AM Asia lifted the stock markets at the opening and Europe followed. When Europe had closed Obama said on television that a group of seven senators had come up with a new solution for the debt and that Obama found the idea good for continued negotiations. All U.S. indices quickly increased the pace of the uptrend and tonight's close at 10 PM was just below the days trading tops.
In Europe the EU commission wanted a meeting on Thursday to solve the Greece problem. Angela Merkel however said that there was no hurry and that the markets should not expect too much on Thursday.
The short term trend is now up again but there is so far no change in the main trends.
According to Shiller a great depression will start in 2012 and no growth during the next 10 years. Read it.SAN LUIS OBISPO, Calif. (MarketWatch) — A slow-growth decade is already raging. You feel it everywhere. And it’s going to get worse, much worse. A recession is virtually certain for 2012, in an angry, volatile presidential election year. May morph into a 1930’s-style depression. http://www.marketwatch.com/story/5-buys-5-sells-for-10-long-years-of-no-growth-2011-07-19
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